For decades, Tom worked, saved, and planned for a comfortable retirement. Then, in just six months, it all disappeared. The 77-year-old California retiree lost $177,000 after falling victim to what he believed was a legitimate investment opportunity. The loss has left him facing debt and searching for work during what should have been his retirement years. 'I've got to find work now to compensate,' Tom told NBC 7 Responds. 'I mean, there is no more retirement.'
His experience has sparked questions about the role financial institutions can play in identifying unusual activity and protecting customers from increasingly sophisticated scams.
